IREN director receives grant of 6,657 shares

ALFRED MICHAEL reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

ALFRED MICHAEL reported acquisition or exercise transactions in this Form 4 filing.

IREN Ltd director Alfred Michael reported a new equity grant and updated holdings. He received 6,657 Ordinary Shares at a price of $0.00 per share as a grant of restricted stock units that vest only if he meets specified vesting conditions. Following this grant, he owns 127,606 Ordinary Shares directly. He is also shown as having indirect ownership of 750,461 Ordinary Shares through Alpine Fox LP, over which he has control, while disclaiming beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Grant/Award: 6,657 shares

Grant/Award 2 txns

Insider ALFRED MICHAEL

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Ordinary Shares	6,657	$0.00	$0.00
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Ordinary Shares — 127,606 shares (Direct); Ordinary Shares — 750,461 shares (Indirect, By Alpine Fox LP)

Footnotes (2)

1. F1. Represents a grant of restricted stock units that will vest subject to the Reporting Person's satisfaction of applicable vesting conditions.
2. F2. Represents Ordinary Shares held through Alpine Fox LP, over which the Reporting Person has control. The Reporting Person disclaims beneficial ownership of the Ordinary Shares except to the extent of his pecuniary interest therein.

Key Figures

Equity grant size: 6,657 shares Grant price: $0.00 per share Direct holdings after grant: 127,606 shares +1 more

4 metrics

Equity grant size 6,657 shares Restricted stock unit grant of Ordinary Shares

Grant price $0.00 per share Price for the 6,657-share award

Direct holdings after grant 127,606 shares Ordinary Shares held directly following the transaction

Indirect holdings via Alpine Fox LP 750,461 shares Ordinary Shares held indirectly through Alpine Fox LP

Key Terms

restricted stock units, beneficial ownership, pecuniary interest, indirect ownership, +1 more

5 terms

restricted stock units financial

"Represents a grant of restricted stock units that will vest subject to the Reporting Person's satisfaction of applicable vesting conditions."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of the Ordinary Shares except to the extent of his pecuniary interest therein."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"The Reporting Person disclaims beneficial ownership of the Ordinary Shares except to the extent of his pecuniary interest therein."

indirect ownership financial

"Represents Ordinary Shares held through Alpine Fox LP, over which the Reporting Person has control."

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did IREN (IREN) director Alfred Michael report?

Alfred Michael reported receiving 6,657 Ordinary Shares in IREN Ltd as an equity grant. These shares come from restricted stock units that vest only if he satisfies applicable vesting conditions, making this a compensation-related award rather than an open-market purchase or sale.

How many IREN (IREN) shares does Alfred Michael hold directly after this Form 4?

After the reported grant, Alfred Michael holds 127,606 Ordinary Shares of IREN Ltd directly. This reflects his updated direct ownership position and does not include additional shares he is associated with indirectly through Alpine Fox LP as disclosed in the filing.

What is the size and nature of the new IREN (IREN) equity grant?

The filing shows a grant of 6,657 Ordinary Shares at a price of $0.00 per share. It represents restricted stock units that will vest only if Alfred Michael meets specified vesting conditions, characterizing it as a standard compensation grant rather than a cash purchase.

What indirect IREN (IREN) holdings are associated with Alpine Fox LP?

The Form 4 lists 750,461 Ordinary Shares of IREN Ltd held indirectly through Alpine Fox LP. The filing states Alfred Michael has control over Alpine Fox LP but disclaims beneficial ownership of these shares except to the extent of his pecuniary interest in the entity.

Does this IREN (IREN) Form 4 show any insider share sales or open-market buys?

The data show a grant of 6,657 shares as compensation and a holding entry for Alpine Fox LP, but no open-market purchases or sales. There are no transactions coded as buy or sell; the main action is a grant or award acquisition.

What does it mean that Alfred Michael disclaims beneficial ownership in some IREN (IREN) shares?

The filing explains that Ordinary Shares held through Alpine Fox LP are associated with him, but he disclaims beneficial ownership except for his pecuniary interest. This clarifies that his economic stake is limited to his financial interest in the partnership’s holdings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/01/2026 - 04:28 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ALFRED MICHAEL

(Last) (First) (Middle)

C/O IREN LIMITED

LEVEL 5, 55 MARKET STREET

(Street)

SYDNEY C3 2000

(City) (State) (Zip)

AUSTRALIA

(Country)

2. Issuer Name and Ticker or Trading Symbol
IREN Ltd [ IREN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares	07/01/2026		A		6,657(1)	A	$0	127,606	D
Ordinary Shares								750,461	I	By Alpine Fox LP(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a grant of restricted stock units that will vest subject to the Reporting Person's satisfaction of applicable vesting conditions.

2. Represents Ordinary Shares held through Alpine Fox LP, over which the Reporting Person has control. The Reporting Person disclaims beneficial ownership of the Ordinary Shares except to the extent of his pecuniary interest therein.

	/s/ Cesilia Kim, attorney-in-fact for Michael Alfred	07/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)